Fidson leads losers as stock market weakens

The Nigerian stock market opened the week on a negative note as market participation weakened on Monday, causing both the volume and value of trades to decline by 43.72 per cent and 57.08 per cent, respectively.

The market capitalisation of stocks listed on the Nigerian Stock Exchange dropped from N11.849tn on Friday to N11.833tn on Monday, while the All-Share Index declined by 0.13 per cent close at 32,413 basis points.

Fidson Healthcare Plc led 17 losers on Monday, having seen its share price decline by 10 per cent to close at N5.40.

Other laggards on the chart were Wapic Insurance Plc, UACN Property Development Company Plc, Lafarge Africa Plc and Unilever Nigeria Plc.

Wapic saw its share price drop by 9.09 per cent to close at N0.40, while UPDC’s share price declined by eight per cent to close at N1.61.

Lafarge’s share price reduced by 6.52 per cent to close at N21.50, while Unilever closed at 41.20 per share, after losing 5.29 per cent.

AXA Mansard Insurance Plc led the gainers’ chart on Monday with an increase of 10 per cent in its share price.

Sector performance showed advancements in the oil and gas sector by 0.92 per cent, insurance sector by 1.42 per cent, and banking sector by 0.72 per cent, respectively.

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